Carbon Insights

10 July 2009

Welcome to the July edition of Carbon Insights. It's a timely edition considering the significant developments we've seen over the last few weeks. As Australian implementation of cap and trade legislation has gotten bogged down, the US Government is roaring ahead with its Waxman-Markey Bill. In this edition we look at what the US Bill means for us.

We'll also examine the latest in:

the emissions-intensive trade-exposed (EITE) assistance program
how the CPRS will affect directors' and officers' insurance
the extension of reporting obligations under the NGER Act
environmental and other assessments for carbon capture storage projects
where to now for greenhouse triggers in the Environment Protection and Biodiversity Conservation Act 1999
changes affecting carbon sequestration rights arising from forestry projects; and
the cure for an anomaly in transferring reporting obligations under the NGER Act.

Who gives a Waxman-Markey?

By Brendan Bateman.

The US Senate could soon pass the Waxman-Markey Bill, with significant ramifications for Australia, says Brendan Bateman, particularly in the international offset market.

Making the EITE workable: The Government's draft CPRS Regulations

By Graeme Dennis and Brendan Bateman.

How will the emissions-intensive trade-exposed (EITE) assistance program work in practice?Graeme Dennis and Brendan Batemanexamine the draft regulations which flesh out the scheme established in the Carbon Pollution Reduction Scheme Bill 2009.

Is the climate right to change your D&O insurance?

By Peter Mann and David Gerber.

Peter Mann and David Gerber explore the new liabilities for directors and officers under the Carbon Pollution Reduction Scheme and ask: is your D&O insurance ready?

CPRS extends NGER Act obligations beyond constitutional corporations

By Rachel Baird and Brendan Bateman.

You don't need to report under the current NGER Act, so you can relax, right? Wrong, warn Dr Rachel Baird and Brendan Bateman - you may still have reporting obligations as part of the CPRS.

Carbon capture and storage: Navigating the environmental and heritage assessment process

By Claire Smith.

Claire Smith explains why proponents of carbon capture storage projects should think early about the wide range of environment and heritage assessments and approvals they might have to deal with.

Pulling the greenhouse trigger or pushing the CPRS button?

By Brendan Bateman.

Will Australian planning law get a greenhouse trigger, requiring federal consideration and approval for certain greenhouse gas-emitting projects? The idea has resurfaced, but as Brendan Bateman shows, it might not fit with the rest of the Federal Government's plans.

Seeing the wood for the trees: A look at recent forestry amendments to the CPRS

By John Clayton.

There could be more commercial flexibility in dealing with carbon sequestration rights arising from forestry projects following changes to the Carbon Pollution Reduction Scheme Bills, says John Clayton.

Transferring reporting obligations under the NGER Act made easier

By Brendan Bateman.

The Federal Government has fixed an anomaly in transferring reporting obligations to a non-corporate group member under the National Greenhouse and Energy Reporting Amendment Bill 2009, as Brendan Bateman explains.

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